Year: 2017
Author: Buck, Florian, Schuknecht, Ludger
Credit and Capital Markets – Kredit und Kapital, Vol. 50 (2017), Iss. 2 : pp. 171–187
Abstract
Average gross general government debt-to-GDP ratios in advanced economies have almost reached their highest levels since WWII. Moreover, growing fiscal risks emerge from adverse fiscal-financial linkages and aging societies. Policy-makers should take advantage of the current economic recovery and extraordinary measures by central banks to pursue growth-friendly fiscal consolidation, supported by comprehensive structural and financial sector reforms to improve the growth potential and reduce future fiscal liabilities. These are fundamental elements to enhance macroeconomic resilience and to pave the way for a timely exit from expansionary monetary policy. In case of EMU, a strict implementation of the EU"s fiscal and banking sector governance is essential.
Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/ccm.50.2.171
Credit and Capital Markets – Kredit und Kapital, Vol. 50 (2017), Iss. 2 : pp. 171–187
Published online: 2017-06
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 17
Keywords: H3 H6 E6 fiscal policies public debt macroeconomic stability
Author Details
| Section Title | Page | Action | Price |
|---|---|---|---|
| Florian Buck / Ludger Schuknecht: Fiscal Soundness and the Triangle of Stability | 1 |